All Forum Posts by: Cameron Philgreen

@George Clark  thanks so much man! Super helpful.

As I'm reading and learning, I keep thinking, 'so why not just buy like 40 properties all in a row, rack up $3M in debt and cashflow like $20,000 per month, ya know? But obviously banks wouldn't be crazy about that idea, haha. Sounds like it just takes time.

@Tom S. thanks so much man!  Super helpful.  

As I'm reading and learning, I keep thinking, 'so why not just buy like 40 properties all in a row, rack up $3M in debt and cashflow like $20,000 per month, ya know?  But obviously banks wouldn't be crazy about that idea, haha.  Sounds like it just takes time.

My wife and I are relatively new to the investing game. We have no debt except the 2 houses we own ($240,000 total mortgage debt). One property cashflows $550 / mo and the other is our primary residence / airbnb and cashflows about $400 /mo.  Our goal over the next couple years is to have 10+ more doors.

My question: How many loans can we possibly get?

What are banks looking at?  We make a fair amount of money (about $80k after taxes/expenses), but in my opinion not enough to justify potentially being $1,500,000 in debt in the next couple years.

So, as we venture into the world of rental properties more and more, can we expect to just be approved for a loan every time as long as the property will cashflow?  Or is there a line where they say, "stop, that's too much debt compared to your income."

Lenders and others, what say ye?  Tell me the smartest and most effective way to get OPM!

We have a rental property cashflowing $500/mo and an Airbnb cashflowing $500/mo. Lots of savings and I really want this used Tesla model 3. My amazing wife is holding me back. Convince me that money can be used better somewhere else.